The logo of the Organization of the Petroleum Exporting Countries (OPEC) is pictured at its headquarters in Vienna, Austria, August 21, 2015. REUTERS/HEINZ-PETER BADER
Your feedback is important to us!
We invite all our readers to share with us their views and comments about this article.
Disclaimer: Comments submitted by third parties on this site are the sole responsibility of the individual(s) whose content is submitted. The Daily Star accepts no responsibility for the content of comment(s), including, without limitation, any error, omission or inaccuracy therein. Please note that your email address will NOT appear on the site.
Alert: If you are facing problems with posting comments, please note that you must verify your email with Disqus prior to posting a comment. follow this link to make sure your account meets the requirements. (http://bit.ly/vDisqus)
Escalating diplomatic tensions between Iran and Saudi Arabia have added fresh strains on OPEC's unity as the cartel grapples with a common response to rock-bottom oil prices, experts said.Crafting a new way forward has become yet tougher since Saudi Arabia executed prominent Shiite cleric Nimr al-Nimr at the weekend, triggering a sectarian standoff with Iran.For its part, Iran, the other pillar of OPEC, has no intention of curbing its production with the lifting of Western sanctions just on the horizon, which would allow it to resume crude oil exports.In a move seen designed to sabotage Iran's oil comeback, Saudi has been cutting the price of its oil exports for February delivery to European customers, and of some exports to the US and the Middle East.Still, OPEC has survived previous conflicts among its members, notably during the 1980-1988 war between Iran and Iraq.
FOLLOW THIS ARTICLE